Key Market Players in the Streaming Analytics Market and Opportunities

The Streaming Analytics Market size was USD 10.3 billion in 2019 ­and is projected to reach USD 35.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 28.2% during the forecast period as per a report by MarketsandMarkets.

Emerging technologies such as big data analysis, Internet of Things (IoT), and Artificial Intelligence (AI) are creating possibilities for better behavior interpretation and the understanding of user behavior. Another factor driving the streaming analytics market is the business strategic shift toward real-time, which accurately forecasts for faster decision making.

Why traction in real-time recommendations, pattern and anomaly detection could result in rising opportunities?

Organizations are beginning to take a deeper look at capturing data about streaming events. Being able to act as soon as events are generated improves operational responsiveness and organizational effectiveness. Integration of businesses with streaming analytics solutions provides the flexibility to apply rich context to the events as they occur. Streaming analytics can be used to improve operational efficiencies, reduce infrastructure costs, and provide faster insights and actions. Organizations in every industry have data streaming available from applications, social media, sensors, devices, websites, and more. Analyzing this data in real time, rather than storing it and analyzing it later, can provide critical, actionable insights in many operational and functional areas. Essentially, streaming analytics is all about extracting business value from data in motion in the same way traditional analytics tools make use of data at rest. Furthermore, a streaming analytics solution should be a general-purpose solution that can be integrated with, or embedded into other applications. Tight integration is required if the results derived are used to make real-time decisions or to take actions regarding customer service, security or fraud prevention, product recommendations, or automated chat or voice response.

The major streaming analytics vendors include IBM (US), Oracle (US), Microsoft (US), SAP (Germany), Software AG (Germany), SAS (US), TIBCO (US), Impetus Technologies (US), Striim (US), WSO2 (US), Informatica (US), Kx Systems (US), SQLstream (US), EsperTech (US), and Axonize (Israel). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global streaming analytics market. Partnerships and new product launches have been the most dominating strategy adopted by the major players from 2017 to 2019, which has helped them innovate on their offerings and broaden their customer base.

IBM (US) is one of the top vendors in the streaming analytics market, owing to the strong portfolio of solutions and services that the company offers in the market. The IBM Cloud has emerged as a platform of choice, for all business applications, as it is AI compatible and safe to use. It is a unifying platform, which integrates the capabilities of IBM in a single architecture and spans over public and private clouds.

Oracle (US) is a global leader in delivering a broad spectrum of products, solutions, and services, which are designed to meet the requirements of corporate Information Technology (IT) environments, such as platform, applications, and infrastructure. The company’s product portfolio comprises an autonomous database, databases, developer tools, engineering systems, IT infrastructure, Java, and Middleware.

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